01—Abstract
Summary
Summary of the 10-Q filed May 6, 2026. Cited figures are marked; the original filing is the authoritative source.
Corteva, Inc. reported strong financial performance for the first quarter of 2026, with net sales increasing by 11% year-over-year to $4.9 billiona, driven by a 6% volume increase, a 4% favorable currency impact, and a 1% price increase.
This growth was observed across both the Seed and Crop Protection segments, with the Seed segment seeing a 12% increase in net sales and a 23% rise in segment operating EBITDA, and the Crop Protection segment reporting a 10% increase in net sales and a 15% rise in segment operating EBITDA. The company's profitability also improved, with net income attributable to Corteva increasing to $720 millionb from $652 million in the prior year quarter, resulting in diluted earnings per share of $1.07 compared to $0.95. Significant events during the quarter include the announcement of an intent to separate into two independent companies focused on Seed and Crop Protection businesses, alongside the initiation of "2026 Restructuring Actions" aimed at aligning the organizational structure for this separation, incurring $78 million in associated charges.
The company also returned approximately $370 millionc to shareholders through share repurchases and dividends. While the company experienced a significant negative cash flow from operations of $(2.9) billion, largely due to a substantial increase in accounts and notes receivable and a large payment related to the Bayer dispute resolution, its liquidity position remains robust with approximately $6.7 billion in available credit facilities.
02—Key points
Key Highlights
- Net sales increased by 11% to $4.9 billion in Q1 2026 compared to Q1 2025, driven by volume growth, favorable currency impacts, and price increases.
- Net income attributable to Corteva rose to $720 million, or $1.07 per diluted share, from $652 million, or $0.95 per diluted share, in the prior year quarter.
- Both the Seed segment (up 12% in net sales, up 23% in operating EBITDA) and Crop Protection segment (up 10% in net sales, up 15% in operating EBITDA) showed significant growth.
- Corteva announced its intent to separate into two independent publicly traded companies (Seed and Crop Protection businesses) by October 1, 2025.
- The company initiated "2026 Restructuring Actions" with associated charges of $78 million, aimed at preparing for the business separation.
- Shareholders received approximately $370 million in Q1 2026 through share repurchases and dividends.
- Operating EBITDA increased by 21% to $1.4 billion, demonstrating strong operational profitability.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed May 6, 2026Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $4.91B$4.42B | +11.0% |
| Cost of Revenue | $2.37B$2.34B | +1.3% |
| Gross Profit | $2.53B$2.08B | +22.1% |
| R&D Expenses | $341.00M$335.00M | +1.8% |
| SG&A Expenses | $877.00M$751.00M | +16.8% |
| Net Income | $723.00M$656.00M | +10.2% |
| EPS (Basic) | $1.07$0.95 | +12.6% |
| EPS (Diluted) | $1.07$0.95 | +12.6% |
| Shares Outstanding (Basic) | 672.50M684.90M | −1.8% |
| Shares Outstanding (Diluted) | 673.60M686.60M | −1.9% |
05—Questions
Frequently Asked Questions
What was Corteva's financial performance in the first quarter of 2026?
Corteva reported a strong first quarter in 2026 with net sales of $4.9 billion, an 11% increase year-over-year. Net income attributable to Corteva was $720 million, resulting in diluted earnings per share of $1.07. Both the Seed and Crop Protection segments showed significant year-over-year growth in net sales and operating EBITDA.
What are the key strategic developments announced by Corteva?
Corteva announced its intention to separate into two independent companies, one for its Seed business and one for its Crop Protection business. The company also initiated '2026 Restructuring Actions' to align its organizational structure for this separation, incurring $78 million in related charges.
How did Corteva manage its cash flow and liquidity during the quarter?
Corteva generated $(2.9) billion in cash from operating activities, primarily due to increases in receivables and a payment related to the Bayer dispute resolution. However, the company maintains strong liquidity with approximately $6.7 billion in available credit facilities, and returned $370 million to shareholders through dividends and share repurchases.
What were the main drivers of the revenue growth?
Revenue growth was driven by a combination of factors, including a 6% increase in volume across all regions, a 4% favorable impact from currency fluctuations (particularly the Euro and Brazilian Real), and a 1% increase in price, led by the Seed segment. Demand for new products in Crop Protection and seasonal timing shifts in Seed deliveries contributed to the volume increase.
06—Continue